When inflation increases at a ________ rate, the money someone holds will ________ every day
A) high; buy more
B) high; buy less
C) low; buy less
D) low; buy more
B
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Which of the following is false?
A. The completion of the national railroad network by 1890 led to the development of a national American market rather than just a series of smaller regional markets. B. Northern manufacturers benefited from high protective tariffs, which kept out cheaper British goods. C. The U.S. was the first mass-consumption society. D. Aside from slavery, southern and northern agriculture were very similar.
In the above figure, as Brendan's income falls his consumption bundle moves from point A to point E. This implies that for Brendan, compact discs are ________ good and haircuts are ________ good
A) a normal; an inferior B) a normal; a normal C) an inferior; an inferior D) an inferior; a normal
Which of the following effects takes place as a result of automatic stabilization?
A) extra tax revenues are generated in a boom B) tax revenues remain constant during a recession C) leakages increase during a recession, helping to stimulate the economy D) Both A and C are correct.
Marginal labor cost is measured by
a. MR × price b. MR × MC c. change in TR / change in MPP d. change in TC / change in labor hired e. change in TC / change in MPP